This study examines the impact of cooperative membership on rural income generation. It also analyzes the factors influencing participation in cooperatives among rural households in Southwest, Nigeria. The study was designed to account for selection bias into cooperative organizations. Rural household survey data were used and the estimates were based on both the Probit model and non-parametric propensity score matching method. The findings show that income generated through cooperative membership is approximately 10% higher than those generated by noncooperative members. Empirical estimates of determinants of cooperative membership indicate that years of education, age and land size have significant influences on the decision to join cooperatives.

A good level of literacy in financial management has been viewed as crucial to enhancing the growth of small business. However, the level of knowledge and attitude of managers of these businesses remains unclear. This study determines the level of financial literacy among small business managers. Using a survey research design, the study covers small business enterprises in Ogun State, Nigeria. Primary data obtained through questionnaire were analysed. The results show that the overall level of attitude of small business owners to insurance and savings are low. Similarly, based on financial knowledge relating to financing sources and interest estimation are also low. The overall financial management practices among the owners are also not encouraging. The findings suggest a need for an improved level of financial literacy among business enterprises to sustain the growth of the sector.